These stocks, MFS Charter Income Trust, Prospect Capital Corporation, Newell Rubbermaid Inc, Celadon Group Inc, and Middlesex Water Co, have been showing ascending triangle patterns on July 4. This pattern is a bullish formation that usually forms at the time of a upswing as a continuation pattern. Key characteristics that investors can look out for are trend patterns, duration and volume. In order for the pattern to be a continuation, an established pattern should exist. Since the pattern is bullish, the length and duration do not matter. What is important is the robustness of the formation. As mentioned, duration is not that important, but the average pattern lasts 1 to 2 month. As the pattern develops volume contracts and once the stock hits a break point, volume usually expands. The expansion confirms the breakout. This stock has been on a upswing, thus allowing investors to identify a resistance point. Investors may wan to consider going bearish on a breakpoint above the resistance point.
Shares of MFS Charter Income Trust (MCR) fell by 0.41% or $-0.04/share to $9.8. In the past year, the shares have traded as low as $7.82 and as high as $9.89. On average, 122160 shares of MCR exchange hands on a given day and today's volume is recorded at 99688.
Shares of Prospect Capital Corporation (PSEC) traded higher by 0.69% or $0.08/share to $11.7. In the past year, the shares have traded as low as $6.63 and as high as $11.62. On average, 1379960 shares of PSEC exchange hands on a given day and today's volume is recorded at 1267668.
Shares of Newell Rubbermaid Inc (NWL) fell by 0.22% or $-0.04/share to $18.12. In the past year, the shares have traded as low as $10.70 and as high as $19.31. On average, 3064360 shares of NWL exchange hands on a given day and today's volume is recorded at 1156936.
Shares of Celadon Group Inc (CGI) traded higher by 1.87% or $0.30/share to $16.35. In the past year, the shares have traded as low as $8.15 and as high as $17.19. On average, 169370 shares of CGI exchange hands on a given day and today's volume is recorded at 128618.
Shares of Middlesex Water Co (MSEX) traded higher by 1.68% or $0.32/share to $19.38. In the past year, the shares have traded as low as $16.02 and as high as $19.21. On average, 30890 shares of MSEX exchange hands on a given day and today's volume is recorded at 14754.
